The war clouds are already casting a dark shadow on the business atmosphere between India and Pakistan.
UTV Software Communications is among the first companies to officially withdraw all its plans from the Pakistan market at a point when the Indian government is demanding stricter action against terrorism emanating from the neighbouring country.
UTV has decided not to release any of its upcoming films in the Pakistan market until this issue is satisfactorily resolved. Also, UTV is withdrawing its plans to launch Bindass and Bindass Movies, two prominent channels from its stable, in this market.
"Pakistan is an important market and we have the highest regard for its people, but in the present situation it is important for all companies to support our government in its demand for strong action against terrorism by the government of Pakistan. We would be happy to resume business in Pakistan once we all see affirmative action. We have so far had a wonderful relationship with our distributors there and its unfortunate that these events have come to pass," said UTV Motion Pictures CEO Siddharth Roy Kapur. Mr & Mrs Khanna was the next film from the UTV house that was scheduled for release in Pakistan. In terms of theatrical revenues, Pakistan comes after UAE as a key Bollywood market.
Pakistan is touted to be the next big growing market for Bollywood films, given the high interest in Indian cinema amongst its people. Currently, the largest overseas markets for Bollywood are the US, UK and the UAE. The first film that released by UTV in Pakistan was the John Abraham starrer, Goal.